1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ollegr [7]
3 years ago
7

You and several friends are stranded on a desert island. the group decides to gather coconuts. being afraid of heights, the grou

p decides that the best way to gather coconuts would be to knock them down by throwing rocks at them. later, it is decided to build a catapult to hurl the rocks into the tops of the palm trees. how would economists classify the rocks and the catapult?
Business
2 answers:
dlinn [17]3 years ago
6 0

Answer:

Rocks are land, and the catapult is capital since it had to be built by people.

Explanation:

According to a different source, these are the options that are included with this question:

  • Rocks are just rocks, and the catapult is land since it’s made of wood.
  • Rocks and catapults are both capital because they are used as tools.
  • Rocks are land, and the catapult is capital since it had to be built by people.
  • Rocks are labor because people had to throw them, and the catapult is entrepreneurship because someone had to design it.
  • Rocks and the catapult are both land since they both originated in the earth.

This question refers to the factors of production. Factors of production are the inputs that are necessary in order to create a particular good or service. These can include land, labor, entrepreneurship and capital. These concepts were developed by economists such as Adam Smith and Karl Marx. In this example, the rocks would be considered land, while the catapult would be considered capital, as it was built by people.

klasskru [66]3 years ago
3 0

Capital is a way of having land and labor to be involved for production. In the given scenario above, the catapult and rock would be a capital since it is needed to be made by people in order to gain something or it is used for production.

You might be interested in
Sheridan Company uses job order costing for its brand new line of sewing machines. The cost incurred for production during 2019
gizmo_the_mogwai [7]

Answer:

$1,440 per machine

Explanation:

The computation of the cost per machine is shown below:

= Total cost ÷ number of machine completed

where,

Total cost = Material cost + direct labor cost + manufacturing overhead applied cost + beginning work in process cost - ending work in process cost

= $15,000 + $11,000 + $7,000 + $11,000 - $8,000

= $36,000

And, the number of machine completed is 25

So, the cost per machine is

= $36,000 ÷ 25 machines

= $1,440 per machine

4 0
2 years ago
Monopolistic competitors in the food industry, acting in their own self-interest, will often include a recyclable symbol on pack
anygoal [31]

Answer:

Differentiate their products

Explanation:

A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.

examples of monopolistic competition are restaurants

A monopolistic firm in the food industry acting in their own self-interest, will often include a recyclable symbol on packaging used for their product to Differentiate their products. This is meant to communicate to consumers that they are different from other firms in the industry

5 0
3 years ago
Financial performance measures ______. are all based on leading indicators may cause managers to make decisions that won't be op
AnnyKZ [126]

Answer:

x

Explanation:

6 0
3 years ago
A poem on the story of snow white
ivolga24 [154]
SNOW WHITE AND THE SEVEN DWARFS BY ANNE SEXTON
5 0
3 years ago
Read 2 more answers
Gardner Company expects sales for October of $249,000. Experience suggests that 45% of sales are for cash and 55% are on credit.
yarga [219]

Answer:

$68,475

Explanation:

Data provided

Sales in October = $249,000

Credit percentage = 55%

Following month percentage = 50%

The calculation of accounts receivable is shown below:-

Credit sales in October = $249,000 × 55%

= $136,950

Collection collected in October

= $136,950 × 50%

= $68,475

Therefore, for computing the collection collected in October we simply multiply the credit sales in October with following month percentage.

6 0
3 years ago
Other questions:
  • Suppose Nicholas owns a business making Christmas tree ornaments. Currently, he makes 300 ornaments a month. At this level of pr
    15·1 answer
  • Nina is induced by her guardian Ollie to sign a contract to invest funds in Penny Stocks Inc. through Ollie’s investment firm. U
    11·1 answer
  • A point on the production possibilities curve represents a combination of goods that is
    6·1 answer
  • Before ending the meeting, John Noble informed Howie that he would be sending out an e-mail to all employees asking for suggesti
    10·1 answer
  • Brown Corp., a calendar-year taxpayer, was organized and actively began operations on July 1, 2013, and incurred the following c
    7·1 answer
  • Ou have 3 credit cards: $990.34 (credit limit: $3,500.00), $2,365.78 (credit limit: $4,600.00), and $5,897.65 (credit limit: $8,
    9·1 answer
  • An investor asks a registered representative to underline the most important facts found in a preliminary prospectus. The regist
    7·1 answer
  • A Whopper combo meal costs $3.00 and gives you an additional 15 units of utility; a meal at the Embassy Suites costs $29.00 and
    12·1 answer
  • Suppose a chair manufacturer is producing in the short run (with its existing plant and equipment). The manufacturer has observe
    12·1 answer
  • CORRECT ANSWERS ONLY!
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!